1 Aug 2013
AUD/JPY bleeding blocked by 0.8752 support…bracing for retracement?
FXstreet.com (Chicago) - AUD/JPY bounced from 87.253, 7-months lows originated at aftermath of Stevens’ dovish comments. Price action indicates downward trend reversed as Aussie strengthened on Thursday's trading session in Asia.
Market reacted to Fed’s remarks in previous session quite positively as indicated by Japanese stocks rally. In Australia, both import and export price indexes for the second quarter of the year failed short to meet expectations.
At moment of writing, the pair traded at 88.049 oscillating between supports at 86.209 (Nov 19 highs), 86.592 (Dec. 14 highs), 87.529 (Dec. 27 lows) and resistances at 88.976 (Dec. 27 highs), 89.976 (July 10 lows), 90.466 (July 18 highs). The FXstreet.com technical studies reported pair as slightly bearish despite 0.14% gains since opening on one-hour timeframe analysis.
Market reacted to Fed’s remarks in previous session quite positively as indicated by Japanese stocks rally. In Australia, both import and export price indexes for the second quarter of the year failed short to meet expectations.
At moment of writing, the pair traded at 88.049 oscillating between supports at 86.209 (Nov 19 highs), 86.592 (Dec. 14 highs), 87.529 (Dec. 27 lows) and resistances at 88.976 (Dec. 27 highs), 89.976 (July 10 lows), 90.466 (July 18 highs). The FXstreet.com technical studies reported pair as slightly bearish despite 0.14% gains since opening on one-hour timeframe analysis.